Must Read: Versace Partners With Cher for Pride 2022, Will Sephora Prioritize Diversity With Its CEO Hire?

Plus, Ulta launches accelerator program for early-stage BIPOC brands.

These are the stories making headlines in fashion on Wednesday. 

Versace partners with Cher for 'Chersace' Pride 2022
Versace has teamed up with Cher for Pride 2022, presenting "Chersace" — a limited-edition capsule collection. Available on Versace.com, it includes a T-shirt, socks and a hat featuring the colorful "Chersace" logo, and a second ($3,350) T-shirt done in Diamante. An undisclosed portion of sale proceeds will go to Gender Spectrum, an organization "committed to the health and well-being of gender-diverse youth and their communities." {Fashionista inbox}

Will Sephora prioritize diversity with its CEO hire?
Business of Fashion's Rachel Strugatz questions whether Sephora's recent inclusion and diversity initiatives will extend to its C-suite as it looks to hire a replacement for Martin Brok, who left his post as CEO last week. "Plenty of beauty insiders will roll their eyes if another white man is named to the top job. It's unlikely that there would be much pushback from consumers, however," writes Strugatz, adding, "But who runs Sephora matters....women, including many women of colour [sic], have led the charge in founding newer brands and direct-to-consumer start-ups. Many of the start-ups, challengers and indie lines sold at Sephora are run by women and non-white men. Which begs the question: why not the retailer itself?" {Business of Fashion}

Ulta launches MUSE Accelerator program for early-stage BIPOC brands
On Tuesday, Ulta announced the launch of its MUSE Accelerator program, "its inaugural program dedicated to supporting early-stage beauty brands to launch and thrive in retail," per a press release from the company. Applications are currently open, and in September, eight BIPOC beauty brand founders will be chosen to receive $50,000 in financial support toward brand development. The program also includes a curriculum created in partnership with Venture Noire (a non-profit organization that specializes in accelerator programs dedicated to Black and minority entrepreneurs), which focuses on topics such as brand strategy, retail and supply chain and logistics.{Fashionista inbox}

A look at the business of T-shirt company Life Is Good
Gabriella Paiella delves into the story and success of positive-vibe-hocking T-shirt company Life Is Good — and its general impact on streetwear and merch culture — for GQ. "Have you noticed that as times get worse, our merch is getting…happier? That everything seems to be covered in smiley faces or flowers or gentle, uplifting messages?" Paiella asks. "Reality has an inverse relationship with merch — when the former gets worse, the latter gets more cheerful." {GQ}

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